What is beginning inventory? Beginning inventory is the dollar value of all inventory held by a business at the start of an accounting period, and represents all the goods a business can put toward generating revenue. You can use the beginning inventory formula to better understand the value of your inventory at the start of a new accounting period ..read more

Fashion isn't just all about dressing up and H&M's supply chain procedures are a testament to that. Globally recognised for being a successful and expansive retail giant in terms of market and financial prosperity, H&M's ..read more

There’s no better time to start or grow an eCommerce business, and WordPress makes it easy. Whether you’re an eCommerce pro or a newbie, you can turn any WordPress site into an online storefront thanks to the power of plugins.   ..read more

It’s the simple tool that many small businesses overlook until inaccuracies start to creep into inventory records: a barcode scanner. Using a barcode scanner for small business inventory management can help with stocktaking, stock organizing, and knowing when to reorder ..read more

A company that sells goods keeps a healthy inventory to serve the needs of its customers. There are various accounting principles and computations that are used by a company, some of which are applied to keep track of goods sold and goods in stock ..read more

What is average inventory?  Average inventory refers to the average quantity of stock available in a specified period of time. The purpose of the average inventory formula is to calculate the value of the inventory within that period of time. This is done by finding out the average of the beginning inventory and end, for the accounting period. Understanding average inventory helps businesses determine how much inventory they need to hold at a given point in time. Average inventory formula ..read more

Inventory management is the operational backbone of any business with a product to sell. If you are just starting out with a small number of products without many variants, Microsoft Excel is a good tool for beginners to create an inventory list template ..read more

SKU Rationalization is a process by which merchants determine if a particular product is kept on the shelf or if it should be discontinued, based on its profitability. This process is also known as inventory optimization or product optimization ..read more

Gartner is a long trusted technology consultant and advisor. This historic position enabled them create Digital Markets; a platform providing guidance to small business technology buyers, ensuring that they benefit from credible information and feedback specifically tailored to their unique needs ..read more

Weeks on hand refers to the average amount of time it takes a business to sell the inventory it has on hold. For businesses where there is high, recurring demand, this metric can also be measured in days ..read more